Published: Mon, 09 Feb 2009 22:10:24 +0100
Juncker Says EU Nations Must Tackle Toxic Asset Problem
Speaking to reporters at a summit of European finance ministers, Juncker said that although nations will approach the problem differently, each should proceed with caution. Plans to solve the toxic asset issue should not incur damage to public finances, nor affect competition, he said.
On a positive note, Juncker said the financial position of European banks isn't as severe as American banks.
Huge stimulus packages are no longer a priority for euro zone finance ministers, he said. He criticized the level of deficit and debt being racked up in European nations, and said huge deficits will require an exit strategy.
He said unemployment in the euro zone is set to rise, and encouraged companies to place employees on part-time hours rather than fire them.
By Megan Ainscow, mainscow@economicnews.ca, edited by Sarah Sussman, ssussman@economicnews.ca
CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca
The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News.
A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer.
Search
Actualité du forex
Forex News
- Wall Street ends Friday in negative; Dollar with gains
- Forex: EUR/USD ends week with moderate losses
- Forex: GBP/USD fails to hold above 1.6500
- Forex: EUR/GBP trades at the highest level in a week
- Forex: EUR/USD rebounds at 1.4875 and falls to 1.4835
- Eur/usd : La Tendance Reste Incertaine Pour L'euro
- Le pétrole brut chute en raison de la baisse du marché action
- L'euro ne parvient pas à casser le niveau des 1,50$
- Le dollar se renforce en raison des données économiques faibles
- Le yen s'échange proche d'un plus haut niveau sur une semaine contre l'euro